The Balance Score Card For Mihin Airline Company

Soderberg, Kalagnanam, Sheehan, and Vaidyanathan (2011) presented the balance scorecard as a strategic planning procedural tool used by organizations to balance financial concerns, customer concerns, process concerns, and innovation concerns with the main purpose of developing appropriate strategy in favor of a more favorable market position (p. 689-690). Similarly, Lawrence and Webber (2008) illustrated

The use of a balanced scorecard when gauging the performance of executives at Paradigm Toys is useful because it measures several key areas that measure past and real time performance that directly affects the company. A balance scorecard can contain both financial and nonfinancial measures as well as both quantitative and qualitative performance measures. Additionally because a balance scorecard can be tailored to the business’s specific targets it can measure the substance of performance better that basic financial indicators that are usually considered the basis of performance ratings. It is important to use more than just financial indicators, because other factors, those qualitative in nature, measure how an employee does their job and gives a larger picture of how well an employee performs. For example, in the case of sales concerning installation of home improvement products one might be measured by repeat buyers or customer satisfaction of how well the salesman followed up with their sale and installation. This kind of non-financial factor can be used to measure the company’s goal of repeat buyer and customer satisfaction which can translate into future sales and growth. Financial indicators are used in similar ways, but are more quantitative in nature. The main reason to use financial indicators is because they can provide a clear picture

The balance scorecard method will cover four main areas or quadrants and those are: shareholder value or financial perspective, customer value perspective, process or internal operations perspective, and learning and growth of the employee perspective. These four main areas or quadrants will help explain how Samsung’s new division, Customers Research and Development will be adopted

Financial performance measures, such as operating income and return on investment, indicate whether the company’s strategy

A balanced scorecard is a method company’s use to measure their performance. It includes objectives, strategies, and tactics. This paper will contain two strategic objectives for each of the four balanced scorecard areas (shareholder value or financial perspective, customer value perspective, process or internal perspective, and learning and growth perspective) for H & R Block. It will also have two strategies for every objective, one tactic for each strategy, and two methods to monitor and control the overall strategic plan for H&R Block.

Due to high effectiveness and centeredness on customer, use of Balanced Scorecards is spread widely today. Many companies use Balanced Scorecards approach in conduct of their market analysis and assess their performance effectiveness as-far-as the customer satisfactions and relationship with the company is concerned ADDIN EN.CITE Andra Gumbus2006323(Andra Gumbus, 2006)32332317Andra Gumbus, Robert N LussierEntrepreneurs Use a Balanced Scorecard to Translate Strategy into Performance MeasuresJournal of Small Business Management MilwaukeeJournal of Small Business Management Milwaukee407-426Vol. 44, Iss. 3; pg. 407, 19 pgs32006( HYPERLINK l "_ENREF_1" o "Andra Gumbus, 2006 #323" Andra Gumbus, 2006). Use of a Balanced Scorecards has been touted to assist in improving the customer-company relationship with consistency thus, playing an important role in marketing strategy. This is reflected at Hyde Park Electronics Manufacturer. Upon implementation of a balanced scorecard, the company did manage to raise highest profit in less than 3 years. The customer perspective observed targeted customer satisfaction to allow repeat customer. Convenience offered to customer allowed the company to do their marketing and advertising with lots of ease.

A balanced scorecard derives its name from the perceived need of firms to balance financial measures that are oftentimes used exclusively in strategy evaluation and control with nonfinancial measures such as product quality and customer service. An effective Balanced Scorecard contains a carefully chosen combination of strategic and financial objectives tailored to the company’s business. (David & David, 2017) Auditing is defined as a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between these assertions and established

Company operates in the Industrial Sector – Services, and Industry – Regional Airlines. According to the Standard Industrial Classification System (SIC), company belongs to the industry group 451: Air

This paper compares and contrasts the performance measurement techniques of The Balanced Scorecard (BSC) which is widely used in industry and Multi Criteria Decision Making (MCDM) which is primarily a research tool. A review of the literature revealed a paucity of “real world” airline applications of the BSC while MCDM has been applied to the airline industry but primarily from a research/academic perspective. The aim of this piece of work was to examine the suitability of each process for application to the airline industry. The results show that both methods are suitable for performance measurement in an airline context but that both

The Balanced Scorecard provides information on ABS Corporation around the financials of the organization and forces the upper management team to make informed decisions around the products being provided to consumers, the employees’ wellbeing especially around training, pay and employment satisfaction. It also provides information around the financial health of the organization. The Balanced Scorecard of my organization shows a decline in the performance of ABS Corporation. In Roud1, my overall scorecard was 32, Round 2, I received a 27, Round 3, and a 19 point average was given to me. In Round 4, I received a total score of 12.

The strong competitive advantages which low – cost airline such as Air Asia is equally causing Mas to restructure their operations, there resource such as airplane and the quality of their cabin crew tends to be looked at deeply. Mas has the oldest airline in Malaysia they have to use the advantages to continue to stay at the frontline in the aviation industry by them using available resources effectively with the help of the government and come up with a strong strategy so as to compete and stabilize its product in the aviation industry.

The company initially adopted balance scorecard method in 2005,where they went through the basic steps which was comparatively primitive during the introductory stages but it had a good establishment. Within the next 3-4 years, they flourish because for the first time they could measure the things that were important across the entire company But the company again redefined their balance scorecard in 2010 as they realized that the current balance score card they used

The high maintenance staff, flight operations staff and ground crew are filled with world-class technical skills. Due to the capabilities and attention of the staff and crew, it created a strong safety record in MAS. Other than that, MAS also have potential source of revenue to broaden its business activities. The cabin crew are highly trained and committed to excellent service and the five-star rating owes much to their grace and professionalism

The key fundamental strategy to drive business excellence and opportunity which Tata Group as a whole can apply to align with their mission and vision; the Balance Scorecard. Originated from Dr Robert Kaplan of Harvard Business School and David Norton, it’s a set of measurement, allowing holistic incorporated view of business performance financially and otherwise (International Review of Business Research Papers Volume 6 Number 4, 2010).

Malaysia Airlines (abbreviated MAS), is the government-owned flag carrier of Malaysia. Due to fuel price hiking, inefficient management, global economic crisis, government intervention and low load factor, MAS suffers substantial loss which